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Board approves shift from leasing to purchasing school buses to cut interest costs
Summary
The board approved a purchasing plan to move from annual bus leases to direct purchases; staff said the move reduces interest costs, avoids future lease obligations and relies in part on 70% reimbursement from the transportation component of basic school support.
The Albany School District Board voted to approve a new school bus purchasing plan that transitions the district away from annual leasing and toward buying buses outright.
The board'approved motion, moved by Mister Sharman, authorized staff to follow the purchasing plan the district presented. The superintendent and transportation staff told the board the primary advantages are lower interest costs and avoiding future lease obligations that would commit district…
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